This is an interesting article from PropertyWire about green buildings. It is the first time I have seen a report showing the financial benefits of owning /building a green building. If property owners can make more money AND help the environment it sounds like we will be seeing green properties increasing. The question is how much does it cost to build/convert a building to LEED certification to take advantage of the financial rewards?
PropertyWire Article:
Buildings in the US with a high energy star rating are attracting higher rental premiums than non green buildings of the same size, location and function, according to the latest research.
It is the first credible evidence on the economic value of the certification of green buildings in the commercial property sector, the research commissioned by the Royal Institution of Chartered Surveyors shows.
Its report, Doing Well by Doing Good, shows that buildings with energy star ratings command a premium of 3% per square foot. In addition when looking at effective rents, the true rent of a property, considering rental concessions, spread over the life of the lease, the premium is at least double at 6% and above. Continue reading article HERE
April 10th, 2009 at 9:19 am
Nice writing style. Looking forward to reading more from you.
Chris Moran